Replying to a transaction proposal
A seller who receives a transaction proposal may accept or refuse it. He may also reply to it without accepting or refusing it, by making changes to it.
When this is the case, the seller submits a counter-proposal to the buyer, who in turn must accept or refuse the counter-proposal, or submit a new counter-proposal in order to modify elements contained in the counter-proposal received or any other element of his original proposal, even if the seller had not requested such a change. The counter-proposal can therefore be used by both the seller and the buyer; it is a kind of new promise to purchase or to sell, depending on whether it comes from the buyer or the seller. This back-and-forth between the seller and the buyer may be repeated several times, until one or the other decides to accept the counter-proposal or to end the negotiation.
If the promise to purchase is refused, although it is not mandatory for the seller to sign it, the broker should encourage him to do so to confirm to the buyer that the seller did receive it.
